Are you willing to go to Canada and start your own business? Check out here for all the details!
Owning a business in Canada is possible even if you are not a permanent resident of Canada. If you are worried about your immigration and non-resident status, fret not. You do not have various options as the residents have but you can start some businesses without citizenship as well.
The good news is that it does not matter if you are a permanent resident or not. You could be any citizen. Everyone in the province is allowed to set up a corporation, partnership, or sole proprietorship.
Is it possible for a non-citizen to start a business? If so, how?
If you have an existing business, moving it to Canada is not a difficult job. You start by setting up a few branches and creating some subsidiaries, once that is done it becomes really convenient for planning the expansion of your business.
If you want to own a business either you have to start from scratch or you can consider purchasing an existing business. Determining the purchases of the assets of your business for the income tax-related needs, considering the options that you select becomes important.
You may be wondering owning a business for a non-resident in Canada is possible or not?
If you are starting from a scrape at the least the foreigners or non-residents can do the establishment of Canadian companies. A branch office could be set up by them or a subsidiary establishment could be added to the existing organization.
You would be amazed to know that a place like Canada does not need huge costs for starting small businesses, you could invest as little as $1000. Studies have found that on average typically owners of very small businesses in Canada spend around $6,000 to $ 11000 for starting the business.
Also Read- Start-up Visa Canada – An Ideal Option for Entrepreneur Immigrants
Immigrants are most welcome to start businesses in Canada by the Government!
The government of Canada thinks that the economy of the country flourishes and prospers when foreign investors and businesspersons are arriving in the country. The entrepreneurs who go there and start the business are known as business immigrants. Also, the ones those who had a business visa before starting their business are called business immigrants. The ones in the country who are employed and not getting a salary are referred to as self-employed.
Starting the operations of your company in a place like Canada is not very difficult as the government is also very supportive of investors. Important is to have a plan that is the best for mapping your competitors, targeting your customers operating all the procedures, and setting goals. You have to keep in mind that you have to consider paying and financing your new venture.
If you know somebody in Canada, it becomes easy to obtain a visa that allows you to start your business there. If living is what you are looking at, it is vital to immigrate. Without that, you would not be able to do anything, until and unless you complete the documentation.
Can your existing business in India help you migrate to Canada?
Yes! if you are an entrepreneur in India, it does help you immigrate to Canada. Canada accepts applications for attracting businesspersons and investors through the programs it has for business immigration. These programs help in linking investors from Canada with businessmen who are innovative and talented. The work permit for these investors is supported by the Canadian investors, which allows them to initially visit Canada. Once the business starts to do well and is running smoothly the application for permanent residency can be easily applied for by the businessman.
You have all the insights for starting your own venture in Canada. If you do have the right plan, Act now!